Walmart Names Greg Foran President and CEO of Walmart U.S.

Bentonville, Ark., July 24, 2014 – Today, Walmart (NYSE: WMT) announced that Greg
Foran, 53, has been promoted to President and
CEO of Walmart U.S. Foran succeeds Bill Simon who has been in the role since
June 2010 and will be transitioning out of the company.

Foran
will assume his responsibilities on August 9 and will report directly to Walmart
President and CEO, Doug McMillon. Simon will be available on a consulting basis
for the next six months to ensure a seamless transition.

“Greg
is one of the most talented retailers I’ve ever met. His depth of knowledge and
global experience will bring a fresh perspective to our business,” said
McMillon. “His passion for fresh food, experience in general merchandise and
commitment to e-commerce will help us serve our customers even more effectively
for years to come.”

“During
Bill’s eight years of service to Walmart, his passion for our mission,
dedication to our associates and our customers, and innovative thinking pushed
us forward,” said McMillon. “From the very beginning, his vision led us to
lower the cost of health care through our $4 prescription offering. And, most
recently, he put us on a path to future growth with small formats and efforts
that integrate digital and physical retail.”

A 35-year retail veteran, Foran joined the company in October 2011 and became President
and CEO of Walmart China in March 2012. While leading the business in China,
the team made significant progress with its assortment, pricing, store
operations and compliance as Foran led strategic investments in the supply
chain and improved the store portfolio. He was promoted to President and CEO of
Walmart Asia earlier this year.

Prior
to Walmart, Foran held a number of roles with Woolworths, the leading retailer
in Australia and New Zealand. He served as the managing director of
supermarkets, liquor and petrol with responsibility for more than $40 billion
in sales at that time. Under Foran’s leadership, the business grew sales and
market share in a strong competitive market. Earlier in his career, Foran served as general manager of Big W,
Woolworth’s industry leading discount store business and as general manager of
Dick Smith Electronics.

“I’ve
worked closely with Greg for the past few years and I’ve seen firsthand his passion for retail. I’m confident that Greg’s
strong leadership skills and alignment with our culture will serve our
customers and associates well,” McMillon said. “I’m excited about what he will
bring to this important part of our business.”

“Being
asked to lead the Walmart U.S. business is a privilege that I don’t take
lightly,” said Foran. “I am excited to get started. The needs of our customers
are changing dramatically and we have an enormous opportunity to serve them in
new and different ways. We must be fierce advocates for our customers, work
meticulously to exceed their expectations and earn their trust every day.”

During
his tenure as President and CEO of Walmart U.S., Simon led a turnaround that
reinvigorated the company’s focus on everyday low costs, everyday low prices
and an increased product assortment. He also created more career opportunities
for associates, launched a U.S. manufacturing revitalization and committed the
company to hire more U.S. veterans.

“Whether
we’re helping associates earn more for their families or providing customers
affordable prices so they can put food on the dinner table, Walmart is a
company that is, truly, changing people’s lives,” said Simon. “It’s been an
honor to work for Walmart over the past eight years, and this felt like the
right time to move on and focus on my next opportunity. I look forward to helping the company as much as I can
over the next six months.”

The
company will announce Foran’s successor as President and CEO of Walmart Asia at
a later date.

About Walmart
Wal-Mart Stores,
Inc. (NYSE: WMT) helps people around the world save money and live better –
anytime and anywhere -- in retail stores, online, and through their mobile
devices. Each week, more than 245 million customers and members visit our
almost 11,000 stores under 71 banners in 27 countries and ecommerce websites in
10 countries. With fiscal year 2014 sales of over $473 billion, Walmart employs
more than 2 million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity. Additional
information about Walmart can be found by visiting http://corporate.walmart.com on
Facebook at http://facebook.com/walmart and on
Twitter at http://twitter.com/walmart. Online
merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.